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m Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 230,000 112,700 117,300 Rent Utilities Share of office department expenses. Total expenses Income Gross profit Direct expenses 21,000 700 2,500 7,050 2,600 11,000 44,850 $ 72,450 Required: Prepare a departmental contribution to overhead report. Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Earbuds $ 85,000 52,700 32,300 8,500 350 600 3,600 2,200 3,000 18,250 $ 14,050 Earbuds Combined Combined $ 315,000 165,400 149,600 29,5081 1,050 3,100 10,650 4,800 14,000 63,100 $86,500

m Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 230,000 112,700 117,300 Rent Utilities Share of office department expenses. Total expenses Income Gross profit Direct expenses 21,000 700 2,500 7,050 2,600 11,000 44,850 $ 72,450 Required: Prepare a departmental contribution to overhead report. Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Earbuds $ 85,000 52,700 32,300 8,500 350 600 3,600 2,200 3,000 18,250 $ 14,050 Earbuds Combined Combined $ 315,000 165,400 149,600 29,5081 1,050 3,100 10,650 4,800 14,000 63,100 $86,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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m Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 230,000 112,700 117,300 Rent Utilities Share of office department expenses Total expenses Income Gross profit Direct expenses Required: Prepare a departmental contribution to overhead report. 21,000 700 2,500 7,050 2,600 11,000 44,850 $ 72,450 Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Earbuds $ 85,000 52,700 32,300 8,500 350 600 3,600 2,200 3,000 18,250 $ 14,050 Earbuds Combined. Combined $ 315,000 165,400 149,600 29,500 1,050 3,100 10,650. 4,800 14,000 63,100 $86,500 Check my w
Transcribed Image Text:m Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 230,000 112,700 117,300 Rent Utilities Share of office department expenses Total expenses Income Gross profit Direct expenses Required: Prepare a departmental contribution to overhead report. 21,000 700 2,500 7,050 2,600 11,000 44,850 $ 72,450 Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Earbuds $ 85,000 52,700 32,300 8,500 350 600 3,600 2,200 3,000 18,250 $ 14,050 Earbuds Combined. Combined $ 315,000 165,400 149,600 29,500 1,050 3,100 10,650. 4,800 14,000 63,100 $86,500 Check my w
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